SAN JOSE, Calif.--(BUSINESS WIRE)-- Green Technology Solutions (OTCBB: GTSO) is using its pathway into the electronic-waste hotbed of Europe as an avenue to capitalize on current rare earth and other mineral commodity trends as it seeks a share of the global e-waste market that is projected to reach $20.25 billion by 2016.
Under their joint venture agreement, GTSO and Chilerecicla have collected a substantial amount of e-waste. The collected material has now gone through a process of sorting and grading. The sorted product will be sent to Europe for final stage smelting later this month where the smelter will extract and recover the precious metals. The company expects a profitability report the following month.
GTSO’s channel to Europe through Chilerecicla ensures the company has access to the most advanced market for the recovery of rare earth from e-waste. The European Commission has already approved $54 million in funding for numerous e-waste recovery projects.
“Through research and development and our connection into Europe through Chilerecicla, we feel GTSO is on the cutting edge of capitalizing on minerals and metals trends in the e-waste sector,” GTSO CEO Paul Watson said. “Our focus going forward is maximizing profits through a range of minerals and rare earth’s recovery from e-waste.”
Urban mining is pivotal to GTSO’s vision to compete alongside major international corporations striving for sustainable waste solutions, such as Covanta Holding Corporation (NYSE: CVA), Industrial Services of America (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: SMS). Late last year, GTSO acquired the company Global Cell Buyers and soon after rebranded the company as Green Urban Mining to handle its domestic recycling and resale operations.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (www.gtsoresources.com) is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit http://www.gtsoresources.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
Source: Green Technology Solutions